Louisiana August Casino Revenue Drops 1.7%

The Louisiana Gaming Control Board posted the August financial results of the state’s fifteen riverboat casinos, Harrah’s land-based casino, and four racinos. Overall revenue amounted to $214.1 million, down 1.7% as compared to the $217.8 million reported for the same month a year ago.

Gaming analysts noted that the drop would have been much more considerable if not for the opening of Golden Nugget Hotel & Casino in Lake Charles. The riverboat venue was launched last December and it reported August gaming revenue of $20.7 million.

Proceeds from New Orleans’ Harrah’s, three riverboat casinos and the slot machines at Fair Grounds Race Course totaled $48.4 million. In comparison, the amount of $52.9 million was generated in August 2014.

The state’s only land-based casino – Harrah’s New Orleans – posted a considerable drop only one month after it reported yearly increase of 26% due to a rise in table games proceeds. The venue’s August revenue amounted to $22.6 million, down 17% year-on-year. The decrease was mainly attributed to the recently introduced smoking ban, which keeps gambling customers from smoking while at the casino.

Revenue at Fair Grounds Race Course decreased 9.3% last month and amounted to $3.2 million. In comparison, the racino generated a total of $3.6 million in August 2014.

Revenue at two of the New Orleans’ three riverboat casinos posted an increase in winnings. Boomtown New Orleans generated a little less than $10 million last month, up 6.2% year-on-year. Revenue at Treasure Chest increased 4.7% to reach $8.7 million. Amelia Belle generated $3.9 million, down 11.7% year-on-year.

Revenue at the three riverboat casinos in Baton Rouge decreased 4.3% last month. The gambling venues posted overall revenue of $23.3 million, compared to $24.4 million for the same month a year ago.

Lake Charles, which is known to be Louisiana’s biggest gaming market, reported a 21.5% increase in its August revenue. The considerable growth was attributed to the opening of Golden Nugget. The three riverboat casinos and the slots at Delta Downs Racetrack Casino and Hotel generated overall revenue of $75 million, compared to the $61.7 million posted for August 2014.

Shreveport-Bossier City’s six riverboat venues together with the slots at Harrah’s Louisiana Downs Casino and Racetrack generated a total of $60 million last month, down 15.7% year-on-year.

Evangeline Downs Racetrack & Casino, the only gambling venue in the Opelousas region, posted revenue of $7.3 million in August, down 3.3% as compared to the figures reported for the same month a year ago.

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